Blackbaud, Inc. (NASDAQ:BLKB) Q3 2024 Earnings Conference Call October 30, 2024 8:00 AM ET

Company Participants

Mike Gianoni - President, Chief Executive Officer, Vice Chairman of the Board of Directors
Tony Boor - Chief Financial Officer, Executive Vice President of Finance, Administration
Tom Barth - Head of Investor Relations

Conference Call Participants

Rob Oliver - Baird
Brian Peterson - Raymond James
Parker Lane - Stifel
Matt VanVliet - BTIG
Kirk Materne - Evercore

Operator

Greetings, and welcome to the Blackbaud Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Tom Barth, Head of Investor Relations. Thank you, sir. You may begin.

Tom Barth

Good morning, everyone. Thank you for joining us on Blackbaud's third quarter 2024 earnings call. Joining me on the call today are Mike Gianoni, Blackbaud's Chief Executive Officer, President and Vice Chairman; and Tony Boor, Blackbaud's Executive Vice President and Chief Financial Officer. Mike and Tony will make prepared remarks, and then we will open up the line for your questions.

Please note that comments today contain forward-looking statements subject to risk and uncertainties that could cause actual results to differ materially from those projected. Please refer to our most recent Form 10-K and other SEC filings for more information on those risks.

The discussion today will focus on non-GAAP results. Please refer to our press release and the investor materials posted to our website for full details on our financial performance, including GAAP results, as well as full year guidance.

We believe that a combination of both GAAP and non-GAAP measures are more representative of how we internally measure our business. Unless otherwise specified, we will refer to only non-GAAP financial measures on this call. Please note that non-GAAP financial measures should not be considered in isolation from or as a substitute for GAAP measures.

And with that, let me turn the call over to Mike.

Mike Gianoni

Thank you, Tom. Good morning, everyone. I want to begin by addressing our revised guidance ranges for 2024. Our Social Sector, which is the majority of our revenue, continues to perform very well and we feel we remain a strong investment for shareholders.

We are lowering our annual revenue guidance due to the continued negative financial impact of EVERFI. Without the negative performance of EVERFI, our guidance for the year would remain unchanged. We are confident that our underlying business and our future opportunities remain strong.